Recent SEC actions against cryptocurrency companies lead to speculation about the future of the Ripple case.
Ripple Case: Rumors of Dismissal
On The Wolf of All Streets podcast, former White House Communications Director Anthony Scaramucci suggested that the SEC might have dropped its case against Ripple. The podcast's host, Scott Melker, noted that cases against companies like ConsenSys, Gemini, Uniswap, and Robinhood have been withdrawn, suggesting the possibility for Ripple.
Reasons for the Delayed Dismissal of the Ripple Case
Despite the SEC's recent actions to terminate other cases, experts believe the Ripple case remains complex for dismissal. In July 2023, Judge Analisa Torres ruled that Ripple's programmatic sales did not constitute securities transactions, but the firm violated laws through direct XRP sales to institutional investors, leading to a fine and injunction that remains critical in the ongoing litigation.
Experts' Opinion on the Appeal
Attorney Jeremy Hogan, a prominent figure in the crypto space, explained that the SEC's appeal primarily revolves around the injunction. Overturning it would be difficult, potentially extending the case into 2025. Hogan suggests a mutually agreed motion could be a viable path for resolution.
The ongoing actions by the SEC and expert opinions point to a prolonged journey ahead for Ripple in its case with the regulator.
